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Owning Waterfront Homes

All About Owning a Waterfront Home - Loans, Insurance, Taxes and More

The decision to buy real estate is one of the most important ones that people make during their lifetime, one that is fraught with stumbling blocks and trepidation. Waterfront property has its own set of rules and guidelines that should be followed. Here are a few hints to help you along that path.

Waterfront Homes

Buying a home is difficult enough, but buying a waterfront home can be even more complicated. First, always find a qualified and experienced real estate agent who deals strictly with waterfront homes. There are many things about homes on the water that other agents may not be familiar with.

Obtaining a Loan

Waterfront homes are typically more expensive than others so you should get qualified for a home loan as quickly as possible. The loans you must obtain are considered jumbo loans so they will take much longer to be approved than others do. The lenders are a lot more particular about who they lend money to, so you must be able to provide proof that you are a qualified buyer.

Insurance for Waterfront Homes

You should expect that your homeowner’s insurance will be significantly higher on a waterfront home than insurance for other homes. This is because of the higher probability of storm damage. Many home owners on the beach are required to buy three different types of insurance: Flood insurance, wind insurance, and general insurance. It is recommended that owners of beach homes install storm shutters to protect against the weather, especially in areas that are potentially in the path of hurricanes.


One downfall is the taxes could be higher for houses or condos that are located on the beach or lakefront. You can check the current year cost taxes on the home through the courthouse records. Additionally, your real estate agent can check their multiple listing service or tax records to get the current year as well as recent year’s tax records.

Explore ourreal estate listings as you begin your search for a new home and contact one of our experienced real estate agents to help you with your home buying questions.

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